Tengzhong says Hummer deal on track

By Kirby Chien

BEIJING (Reuters) - Sichuan Tengzhong Heavy Industrial Machinery, the surprise bidder for General Motors Corp's Hummer brand, said on Sunday the deal should be concluded in the coming quarter.

Little-known Tengzhong, which emerged earlier this month as a candidate to acquire the Hummer brand from bankrupt GM, also said it has no plans to transfer Hummer equipment and technology to China from the United States, or to take on any debt accrued by the business.

"We think a deal should be completed by the third quarter," Yang Yi, the firm's general manager, told Reuters in an interview.

Yang, whose company is unknown to most Chinese even in its own backyard in southwestern Sichuan Province, has little experience dealing with media and was almost apologetic about not providing more details about the deal.

"I hope you can understand, but there are many things I cannot talk about," he said.

One confidential aspect was the Hummer price-tag, although analysts say it would be much less than the $500 million GM was asking for last year.

The executive did say that Tengzhong, a manufacturer of special-use vehicles as well as bridge and highway components, planned to retain the Hummer management team to ensure quality in the off-road vehicle and to keep its small but enthusiastic fan base happy.

"There will not be a China Hummer and a U.S. Hummer, he said. "There is only one Hummer."